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Secured Business Loan - Eligibility

To apply for the loan, it is crucial to check the SME business loan eligibility. Whether you apply for a Regular Secured Business Loan or Secured Business Loan, the following is the eligibility criteria for the borrowers looking to avail loan against property:

  • Any Indian resident, either salaried or self-employed, can avail of finance for SME.
  • The age group of the applicants can be a minimum of 21 years and a maximum of 70 years.
  • Primary applicants can choose a co-applicant to increase the loan eligibility limit and avail the best business loan interest rate. The co-applicants can be partnership firms, close relatives or private limited companies.
  • The entities eligible for the business financing include Shopkeepers, Wholesalers, jewellers, retailers, micro and small manufacturing enterprises, and self-employed professionals.
  • Properties covered include residential property, commercial/mixed-use properties and industrial built up.
  • Loan to Value on the properties goes up to 65%.
  • Transactions covered include Loan Against Property, Balance Transfer of Loan Against Property along with top-up, Non-Residential Purchases and balance transfer of Non-Residential Purchases.
Product Type

Regular Secured Business Loan

Minimum Loan Amount (non metro) (INR)

2 lakh*

Minimum Loan Amount (metro) (INR) 2 lakh*
Maximum Loan Amount (non metro) (INR) 10 crore
Maximum Loan Amount (metro) (INR) 10 crore
Maximum Tenure (Years) 10